CBN Not Using Foreign Reserves To Defend Naira — Cardoso #cbn

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CBN Not Using Foreign Reserves To Defend Naira — Cardoso #cbn


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36 Comments

  1. Is Nigeria Import level now below 80% that Naira is left to DEVALUATION?

    Did you heard what He said again about not "defending" Naira by leaving the Import and Export Market of Dollar and all other foreign currencies opened to Merchants?

    Won ti gbe yin ni Handicap!!!!

    See, this Government of Thiefnubu is for the Elites. Learn to join them by stoping to trade physical goods. But rather switch to forex market now oo!

    Convert your Naira to Dollar. If you can get the Dollar at the bank in the amount you prefer, But Alternate Dollars on Bybit, OKX etc. P2P instead. Sell that converted dollar to Euro and use Geepay to receive it. On Geepay, convert your received Euros back to Naira and transfer it into your Bank Account Denominated in NAIRA.

    Repeat the process again to make Even more Profits.

    Remember, you are through this way Counteracting the Irresponsible Governance of Tinubu and His goons. Nigeria have the old to defend the Naira because the system we are in is still PETROLDOLLAR untill we Join BRICS+. So why must Tinubu leave the ForeX markets to merchants instead of Him Subsidizing the Naira for now when our Rate of Import is above 80%?

    Enh??

    Why??

    If you do not want to remain poor or CIVIL SLAVE or SERVANT for the rest of your life and generations, stop trading physical goods.

    Use your naira to buy Dollars only and or Euro and or Pounds always an sell them back for profit. Do not be foolish by subjecting yourself to Artificially Created Inflation.

    Avoid getting carried hitter and Titter.

    Train your Children to know this fact too.

    USE YOUR NAIRA FOR ABITRAGE ALWAYS.

    DO NOT LET THE BANKS KEEP KEEPING YOU STAGNANT.

    Good luck oooo!!!

  2. You are doing artificial intervention to defend the naira and excite Nigerians. There is no long-term intervention. You used billions of dollars from our reserve to cushion the free fall of Naira

  3. Abeg my people, to shift reserves and move reserves no be the same thing?
    All I know be say the reserves no dey the former position wey e dey before.
    Him don shift am comot for position.

    Haa, English go wound una.
    Abeg oga, shift am put for previous status quo.

  4. The headline here is different from what he said. He basically implied they are defending the naira against their will. Though it's a "small" amount in intervention.